Carbon

Property: Ban Ban Springs sells to carbon aggregators for almost $28.9m

Eric Barker and Linda Rowley, 15/11/2022

CARBON aggregators have snapped up another northern cattle station, this time purchasing Ban Ban Springs in the Northern Territory for $28.9 million – with Corporate Carbon understood to be the buyer.

According to the Emissions Reduction Fund register, the property south of Adelaide River has been under a savanna burning project since 2013 and has already accrued 58,822 Australian Carbon Credit Units (ACCUs).

Beef Central understands the $28.9 million excluded plant and equipment, with the company purchasing 3,000 head for the property.

Corporate Carbon Group chief agribusiness officer Rory Whitefield said the company “will be working to complement the existing cattle production operations with a Savanna Fire Management carbon project on the property.”

“We look forward to welcoming on board with us the current property managers who have managed the property for the past seven years to maintain operations on Ban Ban Springs Station, who will be supported by incumbent suppliers and contractors.

“We’re currently assessing all activities on the property, including the annual Campdraft event, and will consider how we can continue or enhance these to benefit the local community.”

The sale is a considerable mark-up from the last time the 187,300ha property changed hands. It was purchased by NT identity Nico Botha and the Bolkland family for $11.07m in 2016, carrying 12,000 to 17,000 head.

Ban Ban Springs has previously been a tourist venture and was once owned by the founders of Britz Campervans the Gschwenter family.

Other properties sold for savanna burning

Corporate Carbon has recently been active in the northern property market, purchasing Watson River in Cape York for $12m.

It is understood Corporate Carbon will expand the cattle enterprise and then implement a plan to increase the intensity of Watson River’s current fire management practices.

The company employed the son and daughter-in-law of the vendors to manage the holding, as well as any other properties it acquires in the future.

WA grazing and carbon opportunity withdrawn

In other carbon property news, an 8164ha grazing opportunity with commanding views in one of the fastest growing renewable energy areas of Australia has been withdrawn from sale.

Karakin Farm is located at Lancelin, 126km north of Perth on the edge of Indian Ocean. Owned by an Australian developer, it was anticipated to make between $35m and $40m.

The aggregation of Karakin and San Angelo Farms was offered for sale via expressions of interest as a whole or as seven individual titles ranging in size from 383ha to 1829ha with Greg Smith from Elders.

Situated one hour from the Muchea Livestock selling centre, Karakin Farm is described as an ideal finishing block for livestock bred further north or east.

Receiving around 600mm of reliable rainfall per annum, the property is also suited to high intensity grazing, fodder crops and grain and oilseed production.

For the last six years, Karakin Farm has been leased, but has reportedly run around 20,000 ewes.

 

 

 

 

 

 

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